0758 GMT - Elite UK REIT's recent unit-price gains reduce Phillip Securities Research analyst Hashim Osman's conviction on the REIT, as he downgrades his rating to accumulate from buy. He expects the Singapore-listed REIT to partially renegotiate some existing leases that are due to expire in 2028 by the first quarter of this year. The rents to be renewed are likely to match the consumer price inflation in the U.K., which was around 3.5% in November last year, he says in a note. Leases renewed at higher-than-expected rental rates could be an upside, he adds. Phillip Securities retains its target price of GBP0.39. Units are flat at GBP0.36. (megan.cheah@wsj.com)
(END) Dow Jones Newswires
January 07, 2026 02:58 ET (07:58 GMT)
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